Find the Adjusted Balance (Principal)using the U

question 46

Short Answer

Find the adjusted balance (principal)using the U.S. Rule (360 day)after the first payment.
$$\begin{array} { | l | l | l | l | l | } \hline \text { Rate } & \text { Total Time for Note } & \text { Note Amount } & \begin{array} { l } \text { Partial Payment } \\\text { on Day 30 }\end{array} & \begin{array} { l } \text { Partial Payment } \\\text { on Day 90 }\end{array} \\\hline 11 \% & 120 \text { days } & \$ 7,000 & \$ 900 & \$ 1,200 \\\hline\end{array}$$

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Definitions:

Latent Functions

Unintended or less obvious consequences of social structures or activities, which may differ from their intended purpose.

Dating

The process of meeting people socially for possible mate selection.

Homogamy

The practice of marrying someone who is similar to you in background, such as race, ethnicity, social class, education, or religion.

Violent Behavior

Actions that involve physical force intended to hurt, damage, or kill someone or something.